Posted on: 28th Sep, 2013 04:25 pm
I filled bankruptcy in 2003/04? Then my child got leukemia and I had to file again on my home and hospital bills in2012 will I ever be able to buy a house again?
Hi Brook,
You will be able to buy a house again but not so soon. After the bankruptcy discharge, you will have to wait for 3-4 years to get a mortgage. In the meanwhile, you can take steps to improve your credit and financial situation.
Thanks
You will be able to buy a house again but not so soon. After the bankruptcy discharge, you will have to wait for 3-4 years to get a mortgage. In the meanwhile, you can take steps to improve your credit and financial situation.
Thanks
Hi Brook!
Welcome to the forums!
Filing bankruptcy will not stop you from buying a home. However, you will have to wait for a certain time period to get a mortgage after bankruptcy discharge. If you file Chapter 7 bankruptcy, you will have to wait for 4 years to get a mortgage and if you file Chapter 13 bankruptcy, then you will have to wait for 2 years to get a mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Filing bankruptcy will not stop you from buying a home. However, you will have to wait for a certain time period to get a mortgage after bankruptcy discharge. If you file Chapter 7 bankruptcy, you will have to wait for 4 years to get a mortgage and if you file Chapter 13 bankruptcy, then you will have to wait for 2 years to get a mortgage.
Feel free to ask if you've further queries.
Sussane
Having to file for bankruptcy may not necessarily prevent you from buying a home or being a homeowner. However, there will be a certain amount of time that you will have to wait before most lenders will consider giving you a loan for a home. With a Chapter 7 bankruptcy there is around a four year waiting period to get a mortgage and, with the Chapter 13 bankruptcy, it is about two years to get a mortgage.Â